Google has regained its position as the world's most valuable brand, overtaking 2015 winner Apple, according to the 2016 BrandZ Top100 Most Valuable Global Brands compiled by Millward Brown and WPP.

Worth $229 billion and growing 32% in brand value from 2015, Google overtook Apple, which decreased 8% to $228 billion. Microsoft, Facebook and IBM round out the top five ranking. Technology brands grew just 6% in the last year.

Facebook grew 44%, (the fastest growing tech brand), and Adobe grew 41%. New tech brands to the top 20 list include Salesforce and Netflix.

The BrandZ study also identified multiple areas for short-term growth including Virtual Reality, where mass market affordable devices were launched to huge acclaim earlier this year, as well as developing markets, where Facebook and Twitter are desperate to establish themselves. While the luxury end has already been grabbed by the likes of Apple and Samsung, the huge number of newly wealthy consumers remains a big opportunity.differ substantially across countries, according to Brandz.